iCharts Discussions

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (24/06/16) and beyond

Supports are at about 8245/08, 8187/45/29, 8093 and 8014 while resistances are at about 8294, 8301/11/19/48 and 8359. Unfilled gaps on the higher/lower sides are at about 8373/7934 resp. Previous high was 8337. Three +WWs can give about 8300/22/67 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8128 ((if below 8297), 8103 (if below 8239) and 8004 (if below 8168) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty remains above 8000.

Nifty opened flat but rose sharply to close well above 8250. Daily volume is not commensurate with range and hence further rise may be limited. Increasing bearish div will give results only if sustained selling begins. Nifty must close above 8274/96 to continue the rally with while a close below 8170 can start fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully this being an eventful day for Brexit and we could see high volatility.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (27/06/16) and beyond

Supports are at about 8058/34/13, 7993/67/43/07, 7862 and 7818 while resistances are at about 8098, 8112/35/54, 8210 and 8220. Unfilled gaps on the higher/lower sides are at about 8271/7748 resp. 50 dma is at about 7993 while 50 wma is at about 7872. (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8008 ((if below 8096) and 7931 (if below 8025) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty remains above 8000.

Nifty opened down with a massive gap and fell further. But in the afternoon, it rose sharply to close +ve but below 8100. However, nifty fut closed -ve due to a freak open. Daily candle is a hammer but with good -ve volume while weekly candle is bearish engulfing but a doji with average -ve volume. This indicates uncertainty and lower levels may be likely even if it goes up a bit. However, there is now a bullish div but it will give results only if sustained buying resumes. Nifty must close above 8111 to begin with while a close below 7979 may cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of high volatility.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (28/06/16) and beyond

Supports are at about 8079/47/00, 7959/46/24/10 and 7891 while resistances are at about 8103/12/23/33/69, 8230 and 8284. Unfilled gaps on the higher/lower sides are at about 8271/7748 resp. 50 dma is at about 7999 while 50 wma is at about 7872. A +WW can give about 8164( If above 8052) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7983 ((if below 8128) and 7916 (if below 8080) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty remains above 8000.

Nifty opened down with a big gap but recovered to close +ve but below 8100. Daily volume is good +ve and we may see higher levels. Nifty must close above 8109 to begin with while a close below 7979 may cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of high volatility and this being expiry week.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (29/06/16) and beyond

Supports are at about 8114/03, 8086/70/58/01, 7972/56 and 7920 while resistances are at about 8143/57/83, 8251/77/86 and 8309. Unfilled gaps on the higher/lower sides are at about 8271/7748 resp. 50 dma is at about 7999 while 50 wma is at about 7872. A +WW can give about 8192 ( If above 8116) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8059/7895 (if below 8137) and 7955 (if below 8156) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty remains above 8000.

Nifty opened flat and rose to close +ve well above 8100. Daily volume is good +ve and we may see higher levels. Nifty must close above 8141 to rise further while a close below 8108 may cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of high volatility and this being expiry week.

[bharatpatel]

What is hawala rate for this series ??

[vinay28]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (30/06/16) and beyond

Supports are at about 8188/61/34/04, 8080/49 and 7986 while resistances are closely spaced at about 8225/37/50/62/79/98 and 8359. Unfilled gaps on the higher/lower sides are at about 8271/8127 resp. (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8160 (if below 8196), 8097 (if below 8183) and 8025 (if below 8150) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty remains above 8000. A rising wedge can give about 8090/55 in case of a break of 8179.

Nifty opened up with a gap and rose further to close +ve just above 8200. Daily candle is like a spinning top and a likely evening star, latter to be confirmed by a red candle, preferably with a gap down open. However, volume is good +ve and fall, if any, may be limited and we may see higher levels. Nifty must close above 8274 to continue the rally while a close below 8108 may cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view expiry day.

[bharatpatel]

[vinay28]

[AjitS]

Vinay,

While calculating range of NIFTY for the purpose of NRx days, is it just Day's High - Day's low? Irrespective of whether it was Gap up OR Gap down?

For example, with High-Low, today's range is 66.40. (8308.50-8242.1). But Yesterday's high was 8212.40. From there, today's high was 96.10 points. That is big difference in range values, Which one is right?

[chandrujimrc]

Dear Vinay, with your permission I am posting my view.I think Nifty is forming triple top with nrgative divrg.So longs must be cautious.Double bottom formed at 6825 on budjet day with positive divrg ,So we got 1500 points rally.Now triple top with -ve divrg.So be cautious.

[vinay28]

[bharatpatel]